9. In united states
more than 80% of labour force is tertiary workers.

10. Agriculture is
classified under primary sector.

II.
Fill in the blanks:-

1.Production means
creation of utility.

2.Utility means
wants satisfying power.

3.Land and labour
are called original factor.

4. Capital and
organization are called Derived factors.

5.Land is a free
gift of nature.

6.The concept of
division of labour was introduced by Adam Smith.

7.An enquiry into
the nature and causes of wealth of nations was written by Adam Smith.

III.Match
the following:-

1. Land — bears
risk

2. Banking service
— rent

3. Organizer — buildings

4. Labour — tertiary
sector

5. Physical capital
— perishable.

IV.
Answer in brief:-

1. State Lionel
Robbins definition of economics.

v Lionel
Robbins has defined economics as follows economics is the science which studies
human behavior as a relationship between ends and scars means which have
alternative uses.

2.
What are the three sectors of the economy?

Different sectors:

v 1.Primary
sector (raw materials)

v 2.Secondary
sectors (manufacturing)

v 3.Feriary
sector (services)

3.
What is meant by Divisions of labour?

Divisions of labour
means dividing the process of productions into several component processes and
assigning each component in the hands of a labour or a set of labourers who are
or specialists in that particular process.

4.
What are forms of capital?

1.
Physical capital:

Investment on all
manmade physical asserts life buildings and machines are called physical
capital.

2.
Money capital:

Investment made in
the form of many or monetary instrument is called money capital.

3.
Human capital:

Investment in
education, training, healthcare etc., is called human capital.